Statement by Isiah Thomas on rescinding Knicks contract

By Official ReleasePosted Aug 11 2010 7:05PM

"After speaking with Commissioner Stern and Knicks executives, it has become apparent that my new agreement violates certain NBA bylaws. Because of this, I have decided to rescind my contract with the team. I have nothing but the utmost respect for Jim Dolan, Donnie Walsh, Mike D'Antoni and the entire Knicks organization, and I want to thank them for affording me this opportunity.

"One of the biggest regrets of my life is that the Knicks didn't perform up to the standards the fans had every right to expect while I was in charge. I take full responsibility for that. I was very much looking forward to this unique opportunity to help the organization do what I do best: find basketball talent. I wish the team nothing but success in the future."